Young and rich - Chevelle Tech
Bench Racing Stories, cruising and more.

 100Likes
Reply
 
LinkBack Thread Tools Search this Thread Display Modes
post #1 of 88 (permalink) Old May 12th, 19, 1:54 PM Thread Starter
Tech Team
 
Join Date: Nov 2016
Posts: 183
Young and rich

I can’t for the life of me figure out how these 20 year olds on YouTube are driving around Demons and Hellcats and new Corvettes. I’m in my mid 30’s, get up and go to work every day, and could never responsibly afford a car like that. But they meet up in a parking lot with 20 other young guys just like themselves and they all have high end cars. What gives? Yeah I’m jealous, but I’m also a very rational person. I don’t understand HOW they do it.
A lot of you guys were around 40-50 years ago when average joe working at a factory or just out of the service could afford a nice car for 3-5k. I get inflation and everything, but has a 3-5k hot rod really turned in to a 50-60k deal? Am I wrong to think that more people CANT afford a new hot rod now than they could back then?
68malibeast is offline  
Sponsored Links
Advertisement
 
post #2 of 88 (permalink) Old May 12th, 19, 2:16 PM
Senior Tech Team
Alan
 
Join Date: Sep 1998
Location: Sanger, Ca
Posts: 2,800
Re: Young and rich

Could be many factors. Leasing, financing for 7 or 8 years, still living with Mom and Dad. Some of these young people working for large tech firms pull down over $100k starting salary. There’s a lot of young people that hit pay dirt via stock options and IPO’s. Maybe young people don’t care about saving a dollar. I don’t know. I’ve never been able to afford any new performance car. But, I also don’t have just one vehicle and I save 20% of my income. Kind of force myself to be broke that way.
Alan is offline  
post #3 of 88 (permalink) Old May 12th, 19, 2:16 PM
Senior Tech Team
 
Join Date: Feb 2000
Location: SF Bay Area
Posts: 9,633
Re: Young and rich

Many live at home and have either a good line of credit or a co-signer.

Around here there are lots of people early-20’s working for tech companies pulling in well over $100-200k a year. City and county jobs also pay well, my neighbor works for the city of San Francisco changing the bulbs on street lights, his annual pay before overtime is $80,000+ a year, $120,000+ when you factor in OT.

Steve R
Steve R is online now  
post #4 of 88 (permalink) Old May 12th, 19, 2:17 PM
Tech Team
 
Join Date: Sep 2015
Location: PNW
Posts: 803
Garage
Re: Young and rich

Quote:
Originally Posted by 68malibeast View Post
I can’t for the life of me figure out how these 20 year olds on YouTube are driving around Demons and Hellcats and new Corvettes. I’m in my mid 30’s, get up and go to work every day, and could never responsibly afford a car like that. But they meet up in a parking lot with 20 other young guys just like themselves and they all have high end cars. What gives? Yeah I’m jealous, but I’m also a very rational person. I don’t understand HOW they do it.
A lot of you guys were around 40-50 years ago when average joe working at a factory or just out of the service could afford a nice car for 3-5k. I get inflation and everything, but has a 3-5k hot rod really turned in to a 50-60k deal? Am I wrong to think that more people CANT afford a new hot rod now than they could back then?
Their parents are 1%ers.

'69 Malibu
Not2Fast is online now  
post #5 of 88 (permalink) Old May 12th, 19, 3:58 PM
Team Member
Joe
 
Join Date: Sep 2003
Location: Brookfield,WI
Posts: 1,300
Re: Young and rich

Yep lots of kids with parents that have tons of $$. Parents give them huge down payments too so they can buy a $500k house at marriage.

2001 SOM WS6 D1SC procharged forged 347, 12 bolt w/3.73, 622rwhp.
70 SS code 75 L78 CE motor, M21, bench seat frame off resto....SOLD
70 SS, Merlin III 540, TKO 600, cowl induction, 4:10 posi, monaco orange/blk stripes...SOLD
JC70SS is offline  
post #6 of 88 (permalink) Old May 12th, 19, 4:08 PM
Senior Tech Team
jerry
 
Join Date: Dec 2006
Location: portland oregon
Posts: 6,601
Re: Young and rich

Virtually every one of my elders lived by using their credit card ONLY as a emergency crutch. Didn't listen to much else but somehow that trickled down. It's served me well, just retired at 54 after paying off the house recently, that's the ultimate (no)credit card "rewards"!!
von, DUKE 69, Steve R and 6 others like this.
cheveslakr is offline  
post #7 of 88 (permalink) Old May 12th, 19, 6:40 PM
Senior Tech Team
Eric
 
Join Date: Aug 2011
Location: Poteau, Ok
Posts: 3,859
Re: Young and rich

Quote:
Originally Posted by 68malibeast View Post
I can’t for the life of me figure out how these 20 year olds on YouTube are driving around Demons and Hellcats and new Corvettes. I’m in my mid 30’s, get up and go to work every day, and could never responsibly afford a car like that. But they meet up in a parking lot with 20 other young guys just like themselves and they all have high end cars. What gives? Yeah I’m jealous, but I’m also a very rational person. I don’t understand HOW they do it.
A lot of you guys were around 40-50 years ago when average joe working at a factory or just out of the service could afford a nice car for 3-5k. I get inflation and everything, but has a 3-5k hot rod really turned in to a 50-60k deal? Am I wrong to think that more people CANT afford a new hot rod now than they could back then?
The Key word is responsibly! For my last career (of many), I sold cars for 15 years before retiring at 55. I've seen more times that I can count, young people working for the oil co's come in regularly and by $50-60k vehicles with car/truck payments higher than most mortgages.

I personally could/would not buy a new car just starting out. I have to admit, I've wasted more money than I care to admit on cars, however when we managed our debt with the strict stipulation that it could be covered on the lowest of each of our paychecks. We've done that for the last 40+ years of marriage.

Your just jealous because you can't hear the voices!

1967 Olds Cutlass 468 BBC/T400
1963 Plymouth Fury 440/Torqueflite
2007 Ford Mustang GT (momma's car)
oldcutlass is online now  
post #8 of 88 (permalink) Old May 12th, 19, 7:29 PM
Senior Tech Team
Terry
 
Join Date: Apr 2009
Location: Pittsburgh,PA
Posts: 2,404
Re: Young and rich

Then you have to add in the Full coverage insurance for a young driver,=$$$
TerryAT is online now  
post #9 of 88 (permalink) Old May 12th, 19, 7:32 PM
Senior Tech Team
Chris
 
Join Date: Aug 2002
Location: Alberta, Canada
Posts: 5,753
Re: Young and rich

A lot of the youtube crowd get started from parental money. I don't just mean enough for a C5 Vette, but those with exotic cars like Lamborghini's or a ZR1. I've watched a few of the "how did I afford a Lambo at 2x years old". Some talk about financing it. One said his Gallardo cost $110K, he put $40k down and is making payments. Then he said he worked part time as an accountant. I am sure he didn't save $40K in a year or two by working part time. The rest had to come from somewhere.

Almost all will say "work hard! I work my a$$ off and now I am successful" Sure, mostly true. But they had to get started somewhere, and it takes money to make money. I bet if you look at 95% of these rich kids, that they have successful parents that have money.

The last piece of the puzzle, is sustaining an income to keep affording these cars or buying more. That's probably the easier part. Young kids with tons of money and nice cars is the hot ticket on youtube automotive channels. Those with upwards of 1 million subscribers make HUGE money. $20-50K per month is realistic. And then their vehicles become write offs for their business, so while their expenses are high to operate their Youtube channels, the expenses are for their own direct benefit.

Some of these channels are fun, and got mad respect for them. Others, I can't stand the work ethic and freebie lifestyle they've been accustomed to. Buy a car and have someone put a wrap on it is big views and lots of fans, but work hard, safe money, and do your own work. Barely anyone cares.

1971 Chevelle SS454, T56 Magnum 6 speed, 3.31 Posi

Youtube Channel. https://www.youtube.com/user/SS454LS6
Instagram: https://www.instagram.com/ss454_ls6/
Twitter: https://twitter.com/SS454_LS6
-SS454- is online now  
post #10 of 88 (permalink) Old May 12th, 19, 10:56 PM
Senior Tech Team
Eric
 
Join Date: Aug 2011
Location: Poteau, Ok
Posts: 3,859
Re: Young and rich

Back in the day Dire Straits had a good song about musicians and regular folks.
Money for Nothing
https://youtu.be/k47Rhv_2MwQ

Your just jealous because you can't hear the voices!

1967 Olds Cutlass 468 BBC/T400
1963 Plymouth Fury 440/Torqueflite
2007 Ford Mustang GT (momma's car)
oldcutlass is online now  
post #11 of 88 (permalink) Old May 13th, 19, 12:03 AM
Lifetime Premium Member
Cory
 
Join Date: Mar 2011
Location: Wimberley, TX (SW of Austin)
Posts: 4,508
Re: Young and rich

I don't care what other people drive or spend for their cars. I have enuff $$ to last me 2 lifetimes but ah ain't buyin' no $50k truck - not even a $35k one. Well, maybe if Chesapeake drills a well on my property.



My 2009 Ram was $22k new and it'll last me to the grave.
Clint44, BossHogg69 and boyd66k20 like this.
dream66 is online now  
post #12 of 88 (permalink) Old May 13th, 19, 12:14 AM
Senior Tech Team
Chris
 
Join Date: Aug 2002
Location: Alberta, Canada
Posts: 5,753
Re: Young and rich

Quote:
Originally Posted by dream66 View Post
I don't care what other people drive or spend for their cars. I have enuff $$ to last me 2 lifetimes but ah ain't buyin' no $50k truck - not even a $35k one. Well, maybe if Chesapeake drills a well on my property.



My 2009 Ram was $22k new and it'll last me to the grave.
I am well known for being a cheap mofo, I don't like spending money. But if I had enough money to last me 2 lifetimes, I'd sure as heck be willing to spend at least half that lol.

You can't spend money when you're dead... enjoy your loot dude!
KCMO454 and Todds68 like this.

1971 Chevelle SS454, T56 Magnum 6 speed, 3.31 Posi

Youtube Channel. https://www.youtube.com/user/SS454LS6
Instagram: https://www.instagram.com/ss454_ls6/
Twitter: https://twitter.com/SS454_LS6
-SS454- is online now  
post #13 of 88 (permalink) Old May 13th, 19, 7:03 AM
Senior Tech Team
Jeff
 
Join Date: Jun 2009
Location: Pittsburgh, Pa.
Posts: 1,742
Garage
Re: Young and rich

Same today as it was back in my day except the kids drove, GTO's, 442's, Vette's, Cobra's, Hemi's, etc....
shovelrick likes this.
hydro462 is offline  
post #14 of 88 (permalink) Old May 13th, 19, 7:20 AM
Senior Tech Team
Hank
 
Join Date: Feb 2006
Location: Connecticut
Posts: 6,505
Garage
Re: Young and rich

You have to remember back when we were young if you drove a Corvette you were probably considered young and rich then too. I had 3 different Corvettes from the 63 to 67 era and the first 67 I bought around 1977 had the window sticker with it that. It was just a regular Corvette 327-300hp four speed with no options other than the radio. It came up to about $5k on the window sticker but in 67 that was big money. Sure today the prices are much higher with more of a spread between a regular car and Corvette but the wages are a lot different too. The one thing I can say for myself is I would take the old days and cars I had back then than anything they have today. We lived in some of the best times of our lives back then so don't sell yourself short because they were the "Good Old Days" that will stick with me forever.

71 Malibu, Cottonwood Green, 396 BBC, AutoGear M22W 4 speed, 12 bolt 3:55 posi.
HKalin is offline  
post #15 of 88 (permalink) Old May 13th, 19, 7:52 AM
Senior Tech Team
Ed
 
Join Date: Aug 2013
Location: Pittsburgh, PA
Posts: 3,634
Garage
Re: Young and rich

Quote:
Originally Posted by 68malibeast View Post
I can’t for the life of me figure out how these 20 year olds on YouTube are driving around Demons and Hellcats and new Corvettes. I’m in my mid 30’s, get up and go to work every day, and could never responsibly afford a car like that. But they meet up in a parking lot with 20 other young guys just like themselves and they all have high end cars. What gives? Yeah I’m jealous, but I’m also a very rational person. I don’t understand HOW they do it.
A lot of you guys were around 40-50 years ago when average joe working at a factory or just out of the service could afford a nice car for 3-5k. I get inflation and everything, but has a 3-5k hot rod really turned in to a 50-60k deal? Am I wrong to think that more people CANT afford a new hot rod now than they could back then?
To be honest, I never understood how at any generation people did it. I guess I grew up poor and never knew it. My dad bought a brand new base/stripped 1980 Pontiac Sunbird as a family 3rd vehicle for me and my sister to use (and my mom when there was something wrong with the 5-8 year old other 2 vehicles) and I thought it was like winning the lottery. Other kids were driving around in muscle cars (454 Chevelles, Challenger T/As...), or new Z28s that were their own cars, I never understood how.
But for comparison, the AVERAGE new car is probably about $33,000 now. So if you think back to my 1981 example, basically, move the decimal point 1 place for a cheap car. And double that would get you a nice car. And $66,000 can you a hell of a nice car now, Vette, Hellcat...
I think part of it is the "How do they do it" and part of it is "Daymn, new cars performance is AMAZING" for only double the average price, or triple an economy car.
shovelrick likes this.

1967 El Camino Malibu - Deepwater Blue
ZZ4 350, FiTech 600 complete!,Roadmaster tank, 700R4, Underdash A/C in progress, JGC Steering, 1990s truck serpentine.
Pioneer4x4 is offline  
Sponsored Links
Advertisement
 
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Chevelle Tech forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address. Note, you will be sent a confirmation request to this address.

Email Address:
OR

Log-in










Thread Tools Search this Thread
Show Printable Version Show Printable Version
Email this Page Email this Page
Search this Thread:

Advanced Search
Display Modes
Linear Mode Linear Mode



Similar Threads
Thread Thread Starter Forum Replies Last Post
76 Jag XJ12L Runs Rich 64SS427 Misc (NON CHEVELLE AUTOMOTIVE TECH) 8 Jan 26th, 19 1:20 AM

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome